A New Record From Bitcoin! What Does It Mean For BTC?
The bear market in 2022 and the challenging conditions it brought caused all cryptocurrencies, especially Bitcoin (BTC), to experience sharp declines. As a result of these declines, investors also suffered a great loss. In this context, while some investors left the market due to their losses, some investors took advantage of the declines to make purchases.
Blockchain research company Glassnode, which examines these behaviors of investors, announced that the supply of Bitcoin owned by retail investors has increased. According to data shared by Glassnode, the Bitcoin supply of retail investors has reached an all-time high of 17%.
“It’s not perfect yet, but for a 12-year-old asset, it’s solid and definitely heading in the right direction,” said Will Clemente, Reflexivity Research analyst at Glassnode, who shared this Bitcoin data.
The percentage of Bitcoin supply held by retail has soared to 17% this year. Not perfect yet, but solid for a 12-year-old asset and definitely trending in the right direction. Bitcoin’s supply disperses over time, while Fiat’s holder base concentrates to whales over time.
The Glassnode chart, also shared by Will Clemente, shows that the supply of Bitcoin held by retail investors has increased steadily over the years. Glassnode defines retail investors as “wallets that currently hold less than 10 BTC worth $168,300.” Glassnode previously stated in its report published in February 2021 that Bitcoin holders holding less than 10 BTC account for 13.9% of the total supply, and this figure has “increased since the existence of Bitcoin”.
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